The NZD/USD pair initially tried to rally during the week, but found enough resistance above to turn things around and form a less than stellar candle.
The NZD/USD pair initially tried to rally during the week, but found enough resistance above to turn things around and form a less than stellar candle. Ultimately, a breakdown below the bottom of the candle for the week should send this market lower. At this point, I believe that the sellers are still in control, although we have seen quite a bit of bullish pressure. With this, I believe the US dollar continues to strengthen in general, and the New Zealand dollar of course will be susceptible to that pressure.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
